The company explained Finicity’s asset and income solutions are delivered under the CRA framework, and integration will streamline the loan application process, reduce fraud, free up resources and shorten closing time.

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“We’re excited to work alongside Capsilon with the shared goal of transforming the difficult manual mortgage origination processes of today into a modern and digital experience of the future,” Finicity CEO Steve Smith said. “Finicity’s VoA reports are a key part of the next-generation mortgage process.”

“Those who invest in the right technology now will gain a competitive advantage to help them minimize risk and accelerate growth as the market changes,” Obsitnik said. “We’re thrilled to partner with Finicity to help mortgage companies speed up the application process and deliver better borrower and loan officer experiences.”

Earlier this year, Finicity announced a collaboration with Cre8tech Labs, a provider of technology products for the financial services industry, to digitally speed up the verification process for lenders and borrowers.

Alcynna Lloyd is a reporter at HousingWire. Lloyd has a degree in broadcast journalism from the University of North Texas. She previously interned with a broadcast position at CBS and has a background in freelance journalism.

Commentary

With the recent turnover in leadership at the Federal Housing Finance Agency, we may be standing at the precipice of great change in the government’s role in supporting the mortgage market through Fannie Mae and Freddie Mac.